Friday, July 24, 2020

News: Rotherham mail depot acquired


InfraRed Capital Partners has been confirmed as the new owners of a large urban logistics asset in Rotherham - the Parcelforce depot at Templeborough.

Rothbiz reported in June that LondonMetric had completed the £13.3m disposal of a large warehouse at a net initial yield of 5.0%.

The 152,000 sq ft regional distribution warehouse was acquired in 2014 for £10.3m and is let to the Royal Mail Group (Parcelforce) for a further eight years at a rent of £4.70 psf.

The site is the largest and busiest Parcelforce depot in the UK, handling c. 20,000 parcels per day.

The asset has been added InfraRed Urban Logistics Income Fund (IULIF), which targets high-quality urban logistics assets located within a 20-minute drive time of the UK's top 10 city centres. The Fund is seeking to capitalise on the growing demand/supply imbalance that exists in favour of owners of urban logistics assets in city fringe locations, and which is anticipated to accentuate as e-commerce and urban decentralisation activities continue to expand.

Dean Harrison, investment director at InfraRed Capital Partners, said: "Located within a short drive of Sheffield city centre and benefitting from immediate access to the M1 motorway, the unit’s suitability for e-commerce driven occupiers has underpinned the investment rationale. We continue to see our urban logistics assets benefit from densification trends and the accelerating adoption of e-commerce among consumers, particularly in the wake of COVID-19.

"We will look to expand our urban logistic holdings in the UK and Western Europe throughout 2020 and beyond with substantial capital available for deployment."

InfraRed Capital Partners website

Images: InfraRed Capital Partners


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